No, it's just a very high ratio. The lower the number, the higher the gear. For high acceleration or crawling off road, you want a lower gear set, like 4.10 or 4.56. There is more mechanical advantage. 3.27 is fine for a vehicle that is used every day. On the highway, you would get better fuel mileage with 3.27s as the engine turns slower at the same road speed than the others.
Vehicles with high gears usually feel slow because they don't jump off the line, but they are capable of higher top speeds. I had a 94 mustang GT with 3.08 gears. The engine would turn about 4500 RPM around 130 MPH. If it had a 4.10, it would have probably been close to redline at the same speed or possibly less.